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Nifty

Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the index lower to close near day's low. Nifty closed at 17827 with a loss of 18 points. On the daily chart index has formed a small bearish candle forming lower High-Low compare to previous session and has c losed below previous session's low indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 17800 level it would witness selling which would lead the index towards 17720-17650 levels. However if index crosses above 17925 level it would witness pullback rally which would take the index towards 18000-18150.

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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785

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